This graph to me show that while yes technically Moore's law of doubling transistor per "thing Intel or AMD sells you" is still holding, it has ended for single threaded workloads. Moore's law is only holding due to core count increase.
For everyday use of users running multiple simple programs/apps, that's fine. But for truly compute heavy workloads (think a CAD software or any other heavy processing), developers turned to GPUs to get the compute power improvements.
Writing amazing programs taking full advantage of the core count increase is simply impossible (see Amdahl's law). So even if one wanted to rearchitect programs to take full advantage of the overall transistor count from ~2005 to now, they won't be able to.
Compare with pre-2005, where one just had to sit & wait too see their CPU-heavy workloads improve... It's definitely a different era of compute improvements